2,124 Shares in McKesson Co. (NYSE:MCK) Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,124 shares of the company's stock, valued at approximately $1,210,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. Norges Bank bought a new stake in McKesson during the 4th quarter worth approximately $1,200,361,000. NEOS Investment Management LLC increased its stake in shares of McKesson by 65.1% in the fourth quarter. NEOS Investment Management LLC now owns 7,600 shares of the company's stock worth $4,331,000 after purchasing an additional 2,996 shares in the last quarter. Moment Partners LLC bought a new stake in shares of McKesson during the 4th quarter valued at $456,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of McKesson by 7.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 204,384 shares of the company's stock valued at $118,019,000 after buying an additional 14,378 shares in the last quarter. Finally, Korea Investment CORP boosted its holdings in McKesson by 21.0% in the 4th quarter. Korea Investment CORP now owns 112,443 shares of the company's stock worth $64,082,000 after buying an additional 19,524 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Trading Up 3.0 %

Shares of MCK stock traded up $20.43 on Wednesday, reaching $694.12. 1,203,109 shares of the company's stock were exchanged, compared to its average volume of 839,698. The company's fifty day simple moving average is $626.97 and its 200 day simple moving average is $582.06. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $698.76. The stock has a market capitalization of $86.99 billion, a PE ratio of 31.78, a P/E/G ratio of 1.29 and a beta of 0.52.

Remove Ads

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, sell-side analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's payout ratio is 13.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MCK. Mizuho began coverage on McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective on the stock. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Morgan Stanley lifted their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research report on Wednesday. Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $656.71.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,689 shares of company stock valued at $11,187,351. Company insiders own 0.11% of the company's stock.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.